BEIJING -- China's stocks gained on Friday after the securities regulator announced Thursday it will slash the transaction fees of A shares on the Shanghai and Shenzhen bourses by 20 percent starting from Sep 1.

The benchmark Shanghai Composite Index moved up 1.02 percent, or 21.61 points, to close at 2,132.8, while the Shenzhen Component Index rose 0.9 percent, or 81 points, to close at 9,076.62.